Mate Bike in a fresh funding round backed by Nordic Eye.

Mate Bike, a Copenhagen, Denmark-based manufacturer of a foldable electric bike, announced the completion of a capital funding round.

The money was raised from the Danish investors Nordic Eye, joined by existing shareholders Mirabaud Asset Management and Marcy Venture Partners.

Mate.Bike, founded in 2016 by siblings Christian Adel Michael and Julie Kronstrøm Carton and led by CEO Kaarthik Subramani, produces an foldable electric bike made in Copenhagen, Denmark. The bike weighs 19kg and comes in two versions, one for the American market and one for the EU one, as rules and regulations are different for each.

In addition to the online shop, Mate opened flagship stores in Copenhagen and Tokyo and is currently working with 15 partners worldwide to grow its retail sales. It previously raised €2.6 million via Seedrs in 2020 and added Mirabaud and Marcy Venture in the captable in the summer of 2021.